How do you feel about Algogems today?

Today's GEMS price

The 24-hour trading volume is $2.01M. The latest GEMS price is $0.0098, based on the most up-to-date USD market data. Algogems is -21.6% in the last 24 hours with a circulating supply of 399.93M.

GEMS price history (USD)

What is Algogems?

AlgoGems is a decentralized autonomous organization (DAO) that operates a curated NFT platform built on the Algorand blockchain. This platform is designed to facilitate the creation, sharing, and trading of digital assets in the form of non-fungible tokens (NFTs). Established in 2021 by NFX LABS, AlgoGems aims to provide a community-driven space where artists and creators can mint and auction their NFTs without incurring high fees, thanks to the carbon-negative and efficient nature of the Algorand blockchain. The platform distinguishes itself by offering zero-fee NFT creation, making it an attractive option for artists looking to enter the digital art space without the financial burden often associated with other platforms. For transactions such as bidding, selling, auctioning, or buying NFTs, AlgoGems maintains a low fee structure, charging only 0.001 ALGO fees, which further enhances its appeal to both creators and collectors. At the heart of AlgoGems is its native asset, $GEMS, which is implemented as an Algorand Standard Asset (ASA). This token serves multiple purposes within the ecosystem. It acts as a reward mechanism for creators and supporters, highlighting and spotlighting quality content on the platform. Additionally, $GEMS enables holders to participate in the governance of the platform, allowing the community to have a say in its development and operation. AlgoGems represents a blend of technology and community, leveraging the Algorand blockchain to offer a sustainable and user-friendly platform for NFT enthusiasts. Its focus on low fees, coupled with the governance and reward mechanisms provided by $GEMS, positions AlgoGems as a noteworthy player in the NFT marketplace arena.